Schaeffler Enters Space With Spire Deal, Targeting €250 Million Revenue by 2030

1 articles · Updated · Bloomberg · May 27

€250 million in annual space revenue by 2030 is Schaeffler’s target after partnering with Spire Global to enter the spacecraft market.
The German manufacturer will make satellite components for Spire, using the tie-up as its first step into the space industry.
Schaeffler is pursuing the move to cut dependence on the struggling automotive sector, where weak demand has pressured traditional suppliers.
The space push fits a broader diversification plan under CEO Klaus Rosenfeld that also includes defense and humanoid robotics.

Can an auto-parts giant master the precision required for space, or is this diversification a mission too far?

As Schaeffler reaches for the stars, what does its pivot reveal about the crisis in Germany's auto industry?